Archive for the ‘what’s selling in real estate’ Category

I am preparing to sell my parent’s villa-style retirement home and I am getting ready to set the “stage” with color, light and stunning furniture & accessories. All this for a home that will sell under $200K. But I know in doing so – I’ll sell it faster than my competitors.

Why do I do this? Because in today’s real estate world – looks matter. They matter more than ever. I have noticed that you can show buyers great values but if the homes are ugly, dirty, smelly or just not exciting, then they won’t sell. Buyers want something pretty and they don’t want to do anything to make it pretty. They are looking for inherited pretty.

I recently had someone submit a contract on one of my listings where they asked for ALL the furniture and accessories in the home to be included in the purchase price. While this may be extreme, it further validates my belief that a visually stunning home will sell faster than a home without decorating. Buyers want it all.

There will always be investors looking for great buys. But investors are now buying dumps and turning them into show homes with staged furniture. It’s more common than ever and a smart move for savvy sellers. Have you noticed that even foreclosed homes are now getting a facelift and banks are reaping the benefit with higher sales prices?

So for anyone who wants to improve their chances of getting a home sold? Call in a decorator and get that home in show shape. It makes a difference.

We live in a time when people want quick answers and quick resolutions to all their questions. How many times a day do you see articles with “Five ways to Happiness” or “Seven steps to selling your home”? Here’s a fact: there aren’t any quick or fast steps to doing anything. It’s just the use of a catch phrase to get your attention. Imagine how great life would be if we could solve things in three easy steps? It just not that simple.

One of the main things I see is that realtors are being misled to believe that their clients are now internet social butterflies and that so much business is done via the web. This is simply not true. While more than 80% may look on the web for a home; the majority of individuals still rely on word-of-mouth or personal relationships to find a realtor to assist them. For instance, a recent fact published by the American Affluence Research Center reflects that only 12.5% of affluent clients even use social media. That’s not very good odds for those seeking to attract the luxury market via the web, through Facebook or other social networking venues.

The other common mistake I see in today’s real estate world is labeling clients. Of course, you know about “boomers” but now we have the newest which is the Millenial generation. The Millenial Generation was born between 1977 and 1998 and has approximately 75 million members. REALTORS are being led to believe that this age group is the next big wave of buyers. Let me assure you – I don’t see this happening. Why? Because I personally have millenials (with college degrees) living under my roof and they can’t find jobs that pay enough to afford a home. Fact: College degrees don’t guarantee a high-paying job thereby making home ownership affordable. I have friends who also have children who graduated college, who are hard-working and driven BUT who are also waiting tables and working part-time at corporations just to get an opportunity for full-time employment. Where do they live? At home with their parents! In addition, many of my friends have not only their grown children living at home but also their parents. These are the people who are helping to support the Millenials. I wish more people would write about that fact.

Millenials and Gen “X” and “Y” are watching the world economy in turmoil and they are scared for their future. I’m not sure they see the value in home ownership and they may just wait it out for a few years and see how the United States government (and lending instituions) respond to our economic crisis.

What is factual? At the end of the day it is still about relationships. Get out from behind your computer and meet people. Stay in touch with friends and former clients. While I personally have a blog, Facebook page and I tweet like a maniac, I do so for fun. I don’t expect business to boom because I do all my social networking. People will buy homes because they need a place to live. But as for me – know any investors or better yet – let’s do lunch?

What is going on in real estate in Orlando? I must get asked this question about a hundred times per day. I’m beginning to think I need to whip on my swami turban and cart around my “8” ball and start coming up with some snappy retorts. Where is it going? Well I think it’s going UP! Lord knows…we have been down long enough and it can’t go any lower. Good people are walking away from their homes and facing foreclosure, bad people are walking away from their homes and facing foreclosure, smart people are walking away from their homes and facing foreclosure…it’s an epidemic. Good news is that for most epidemics, there is a cure. It’s just sometimes the cure is as bad as the disease. Will we see many more months of price declines, will we see more foreclosures, and will we see more rentals? What will we see? I wish I knew. But this I do know…it WILL rebound. The market will turn. Real estate is a life force and you can not stop it. Everyone STILL wants to own a home. Many people are returning to the thought process that it’s actually a HOME and not JUST an investment. Everything points to the good. The paper (and this is totally shocking) actually reported some positive news about real estate and the fact that it looks like the bottom has hit. Heck, even Donald Trump is buying, buying and buying real estate. Why not? It’s a great time to buy. What is going on in real estate? It’s all a gamble but it has ALWAYS been a gamble. But one thing I know. It’s worth owning a home and it’s still the greatest job on the planet. I love real estate!

ARE THESE THE DOGS DAYS OF REAL ESTATE? On the contrary, it’s A GREAT TIME to buy a home. Why…because buyers hold a lot of power right now and if used properly today’s buyer can become very successful at buying a home at the most opportune time in over a decade. Like it or not, buyers have a big advantage in this market because sellers are now more willing to negotiate. There are also more homes for sale on the market and the lenders are begging for qualified buyers. Buyers rule the world. However, buyers need to be careful. Why? Because things are getting a little ugly in the real estate industry and EVERY BUYER seems to think that all Sellers are DESPERATE for an offer, any offer. I have lost track of how many transactions have not only come in $5,000 under listing price but sometimes almost $500,000 under list price. Buyers need to understand that not EVERY SALE IS A SHORT SALE and not every SELLER is in panic mode. But what you do have…Sellers willing to make some good “deals” out there and you are missing the action. Why are buyers hesitant? I have no idea. I do know this…if buyers wait around for the PERFECT time to buy a home they will miss their chance. He who hesitates… So think about it, go out and look. Find a good REALTOR and get an offer in on the home of your dreams. It’s still a good buy, but even better, it’s good to come home each and every night to your “OWN” place and have a little slice of heaven here on earth.

I find that most buyers today are looking for a home that they can move in without having to lift a finger to make any improvements. TV has brought us the designer dream homes, designing on a dime and trading houses. It’s a whole new world full of ideas for today’s homeowner. For the luxury buyer…there is always the hired help. For those of you who can’t afford hired help, here are some great suggestions for the weekend home repair warrior.

According to Cecilia Sherrard with RISMEDIA, the following are the top things you can finish over a weekend.

1. Replace Old Knobs and Door Handles. This is an easy, inexpensive way to dress up or change the look of doors, cabinets, and more. Many homes in the Cleveland Ohio area are older and have outdated hardware. These small changes can actually transform the look and style of your home. Whether you choose vintage glass, shiny metal or even rustic wood, installing these new knobs and handles can add to the value of your home, as well. Don’t overlook the hinges! If you can’t quite get to those now, but have a squeaky door, try spraying the hinges with a cooking spray like Pam. It works!

2. Install a Greenhouse Window. A beautiful addition to any room in the home, a greenhouse window will allow you to grow flowers, herbs and other plants even during the winter! Replacing a regular window with a greenhouse window adds dimension, light and display space while eliminating clutter. Available at home supply stores, they come with many options including granite finishes and glass shelves.

3. Paint, Paint, Paint! Painting can instantly change your home’s look and feel. Don’t limit your color change to just your walls – an updated color on furniture or cabinetry can really spice things up, as well. Play with new colors, patterns and techniques. Don’t be afraid of going bold; remember, if you don’t like the way the color looks, you can always paint over it! There’s a wall, trim or doorway in everyone’s home that could use some paint or freshening. Cheap and easy, get to work!

4. Replace Builder Lighting or Outdated Fixtures with remote ceiling fans. Not only will it save energy and keep your air circulating, it will add appeal, value and enhance the beauty of a room and pull your entire decor together from the floor up. Ceiling fans today are modern, fun, classy and relatively easy to install. They come with directions and there’s help online. If you purchase one in a home improvement store the sales people will help you as well! Make sure you call on their advice and expertise, that’s what they’re there for!

5. Work on your closets and cabinets. Most homeowners have secrets hiding in their closets and cabinetry. The closet is the least looked at part of the home and there we tend to find cracking or peeling paint, old contact paper and clutter! How about taking a few hours and organize, adding new shelves, hooks or hardware and giving yourself more room by throwing out or donating some of the items you think one day you’ll use but haven’t in a decade!

6. Don’t forget your home’s air quality. Change your furnace filter! You can add a couple of dryer sheets to the new one to add a cheap and whole-house air freshener. Remove your vents and soak them in a hot bleach bath while you vacuum inside to remove dust and build up. Clean the hard to reach spots in your home that you don’t get to often. Behind entertainment centers, baseboards, behind heavy furniture and under beds. Removing dust in the home can make it smell better and create a healthier environment!

These fun projects are a great way to pass the time this winter, not to mention the way they’ll quickly improve the look and value of your home!